QXO (NASDAQ:QXO) Trading Up 3.1% – What’s Next?

QXO, Inc. (NASDAQ:QXO)’s share price was up 3.1% on Tuesday . The company traded as high as $13.57 and last traded at $13.40. Approximately 266,178 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 2,013,499 shares. The stock had previously closed at $13.00.

QXO Price Performance

The stock has a market cap of $5.35 billion, a price-to-earnings ratio of -1.43, a price-to-earnings-growth ratio of 4.09 and a beta of 2.35. The business’s 50-day simple moving average is $13.43 and its two-hundred day simple moving average is $14.79.

Hedge Funds Weigh In On QXO

Hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. acquired a new position in QXO in the third quarter valued at $2,219,000. Advyzon Investment Management LLC acquired a new position in QXO in the fourth quarter valued at $527,000. Finepoint Capital LP acquired a new position in QXO in the third quarter valued at $406,090,000. Summit Trail Advisors LLC acquired a new position in QXO in the third quarter valued at $1,805,000. Finally, State Street Corp acquired a new position in QXO in the third quarter valued at $16,245,000. Institutional investors and hedge funds own 58.68% of the company’s stock.

About QXO

QXO, Inc operates as a business application, technology, and consulting company in North America. The company provides solutions for accounting and business management, financial reporting, enterprise resource planning, human capital management, warehouse management systems, customer relationship management, and business intelligence.